POS Malaysia may soon test the RM1.50 gap resistance level. With a healthy RSI level, a bullish bias may be present above this mark with a target level of RM1.68 followed by RM1.85. Meanwhile, it may continue moving sideways if it fails to cross the RM1.50 mark in the near term. In this case, the immediate support is anticipated at RM1.33, whereby traders may exit on a breach to avoid the risk of a further correction.

Trading Call: Buy upon breakout above RM1.50

Target: RM1.68, RM1.85 (time frame: 3-6 weeks)

Exit: RM1.33

Source: AmInvest Research - 17 Jun 2019